Tax havens: Mitt Romney and the state of Delaware

July 11, 2012

Hour 1

A new Vanity Fair article investigates Mitt Romney’s use of offshore and foreign tax havens and is drawing more attention to the Republican presidential candidate’s finances. In the August issue, journalist NICHOLAS SHAXSONtracksRomney’s accounts in Bermuda, Cayman Islands, and Switzerland. President Obama’s reelection campaign has seized on this asking on its website “Has Mitt Romney avoided U.S. taxes by investing millions in tax havens?” But offshore shelters aren’t the only problem. A recent New York Times piece by business reporter LESLIE WAYNE argues that Delaware is in many ways a bigger corporate tax haven then the more notorious Cayman Islands. Delaware’s corporate and tax friendly laws Wayne writes, have led to a state where corporations outnumber people. Today, journalists Leslie Wayne and Nicholas Shaxson talk to Marty about foreign and domestic tax havens and the loopholes that allow them to thrive.

Radio Times with Marty Moss-Coane can be heard over the airwaves from 10-11 a.m. and 11-noon Eastern time weekdays on 90.9 FM in the Delaware Valley, and rebroadcast from 10-11 p.m. as well. Radio Times is also heard live on the Sirius - XM channel NPR Now 122, weekdays from 9 p.m. to 11 p.m. Eastern.